As - Hadrian P M TR P COS III S C, Pax

Hadrian's early Pax issues coincide with a deliberate policy shift away from the expansionist model of Trajan — he abandoned Mesopotamia and Armenia almost immediately upon accession in 117, drawing the empire back to defensible frontiers. The bronze aes coinage of 121–123 was struck at Rome during his first return to the city after extensive provincial tours, a period when projecting peace as an imperial virtue carried pointed political weight rather than mere convention.